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235.09.1-10. Secured Bail Bonds

AR ADC 235.09.1-10Arkansas Administrative CodeEffective: July 1, 2020

West's Arkansas Administrative Code
Title 235. Arkansas Department of Labor and Licensing
Division 9. Professional Bail Bondsman Licensing Board
Rule 1. Rules of Bail Bond Business
Effective: July 1, 2020
Ark. Admin. Code 235.09.1-10
Formerly cited as AR ADC 164.00.1-10
235.09.1-10. Secured Bail Bonds
Currentness
A. A “secured” bail bond is one that is secured by a grant of an interest in identifiable, tangible property.
B. A promissory note, whether or not co-signed, will not be considered security.
C. A bail bond is only secured up to an amount equal to the fair market value of the interest granted in tangible property.
D. If the amount of the bond exceeds the value of the security, that amount so exceeding the value of the security shall be considered unsecured.
E. Signatures of principals and/or indemnifiers that are not given in the presence of the bail bondsman shall be notarized.

Credits

Amended July 1, 2020.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 235.09.1-10, AR ADC 235.09.1-10
End of Document